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China's E-Commerce Develops Fast
Chinese consumers will buy 800 million yuan (about 100 million US dollars) worth of commodities through the Internet this year, an official said.
Guo Chengzhong, senior advisor to the Ministry of Information Industry, said at an Internet seminar that the country's e-commerce transaction volume will continue to grow to hit 10 billion yuan by 2002.
He revealed that China has already opened more than 1,000 e-commerce websites.
"China's e-commerce has entered a fast-growing stage," he said, adding that the country has made progress in improving laws, safety and technologies to govern the activity.
E-commerce emerged in China in 1995, and by 1998 the interest in new e-businesses had developed into a nationwide fever.
Guo said that the development of e-commerce has been included in a government plan, and more than one million enterprises are expected to do business on the net this year.
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